new to my 95 speedster

[bryan13]

any input would be nice, i just boughta 95 speedster, got it for 900 bucks, redid the seats and it looks great. dropped it in the water, it started up, but it seemed to be spitting oil into the water like crazy, and it didnt seem to go past 40mph unless my gauge is wrong, i pulled out the plugs and there was somewhat of a lot of oil on them, and they definatley were not gapped right, i looked online it said to gap to 050 so i got new plugs and put them in. have not taken it to the lake at all yet but plan on it tomorrow. could this be why there was so much oil in the water? also my star board engine seemed to be smoking quite a bit, not sure if its because it hasnt ran much but it does seem to run alright. does anyone have a diagram on where to hook the garden hose up on these engines, i bought the manual for it and it looks very confusing as far as adjusting the oil injection, any pointers would be appreciated. Am i better off taking the oil injection right out of the boat and making it premix?